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which transactions that are in general journal (i.g. not in special journals) and record them into general journal(please include formula how you can calculate that
which transactions that are in general journal (i.g. not in special journals) and record them into general journal(please include formula how you can calculate that figure.thanks.
The Trial Balance as at 31 May 2020 prepared by the old bookkeeper is as follows: Account Name Acc No Debit Credit 1-1100 74 530 12 503 1-1104 1-1105 565 1-1115 1-2121 6258 2 480 1 890 42 000 1-2125 1-3175 1-3176 15 000 1-3180 65 000 1-3181 47 000 16 595 2-1200 2-1215 3-1300 131 600 3-1310 48 205 3-9000 Cash at Bank Accounts Receivable Control Allowance for Doubtful Debts Inventory Control Packaging Materials Prepaid Insurance Warehouse Fixtures and Fittings Accum Depn - Warehouse Fixtures and Fittings Delivery Truck Accum Depn - Delivery Truck Accounts Payable Control Accrued Expense Payable SO'Brien, Capital S O'Brien, Drawings Profit and Loss Summary Sales Sales Returns and Other Allowances Interest Revenue Discount Received Cost of Goods Sold Salaries and Wages Expense Telephone and Internet Expense Electricity Expense Insurance Expense Packaging Materials Expense Depn Expense Warehouse Fixtures and Fittings Depn Expense - Delivery Truck Bank Fee Expense Bad Debts Expense Discount Allowed 4-1000 154 705 4-1005 410 4-8410 75 74 4-8420 5-1000 6-2540 89 540 18 350 2 145 2 035 6-2545 6-2547 6-2550 6-2556 6-2563 6-2564 150 6-3580 6-3590 6-3595 118 $365 614 $365 614 Transactions for the month of June are as follows: Received $1000 from W Wombat for full payment of his debt as at 31 May, Receipt June 1 No 103 (hint, we may have given him a discount). 1 Paid the annual insurance premium of $1 956, Cheque 904. 2 Cash Sales, 12 Hiking Packs @ $180, Receipt No 104. Paid M Mountain the amount owing to them less 5% cash discount for early payment, 4. Cheque 905. 6 Credit sales to P Possum of 20 Day Packs @ $78. Invoice No. 56. Paid L Lake the amount owing at 31 May and received a 7.5% discount for early payment, Cheque 906. 7 Paid wages owing for the fortnight $420. Cheque 907. 6 8 Paid T Tarn the full amount owing as at 31 May. Cheque 908. Received $7.100 from Q Quoll as full payment of her debt as at 31 May. Receipt N 9 105. 10 Received a quote from Trucks Us for $90 000 for a new delivery truck 14 Paid Electricity Account $310. Cheque 909. 15 Purchased 30 Day Packs @ $48 from T Tarn. Invoice 1290. 16 Donne : DAASIN TI 7 14 Paid Electricity Account $310, Cheque 909. 15 Purchased 30 Day Packs @ $48 from T Tarn, Invoice 1290. 16 Purchased 25 Hiking Packs @ $113 from M Mountain, Invoice 101. 18 Credit sales to W Wombat of 33 Day Packs @ $80 each, Invoice No 57 18 Cash sales, 15 Day Packs @ $78, Receipt No 106. 19 Credit sales to Q Quoll 25 Hiking Packs @ $180 each. Invoice No. 58. Quoll returned 5 Hiking Packs as she decided she only wanted 20. Summer issued Credi Note 19 and gave Q Quoll a credit. As the packs were not damaged they were returned to the inventory. 2 Paid wages owing for the fortnight S420. Cheque 910. Appointed Tim Brady as Sales Representative starting on sth July 2020. His retainer 22 wage was agreed at $1 666 per month with a commission of 5% on products sold. 3 Received $3.500 from P Possum, Receipt No 107 24 Credit sales to W Wombat of 15 Hiking Packs a SISO. Invoice No. 59. 25 Purchased 40 Day Packs @ $49 each from I Lake. Invoice 277 Cash Sales. Lo Day Packs a $80 and 10 Hiking Packs a SI82. Receipt No 108. Q Quoll returned 5 Hiking Packs as she decided she only wanted 20. Summer issued 21 Credit Note 19 and gave Q Quoll a credit. As the packs were not damaged they were returned to the inventory. 22 Paid wages owing for the fortnight $420, Cheque 910. Appointed Tim Brady as Sales Representative starting on 8th July 2020. His retainer wage was agreed at $1 666 per month with a commission of 5% on products sold. 23. Received $3,500 from P Possum, Receipt No 107. 24 Credit sales to W Wombat of 15 Hiking Packs @ $180, Invoice No. 59. 25. Purchased 40 Day Packs @ $49 each from L Lake. Invoice 277. 26 Cash Sales, 10 Day Packs (co S80 and 10 Hiking Packs @ $182. Receipt No 108. 27. Provided a wholesale sales quote to Hobart Hardware for 500 Day Packs @ $65. 28. Received $3 600 from Q Quoll. Receipt No 109. 29 Paid M Mountain $1 200, Cheque 911. Traded in the delivery truck for $13.000 in part payment for a new delivery truck 30 costing $74 000. The remaining $61 000 was paid in cash, Cheque 912 (see depreciation information below). 30 . . End of Month adjustments Insurance is paid once a year in advance on 1 June each year. No adjustment has been made during the year. Wages owing at 30 June $220. A stocktake in the office reveals that Packaging Materials on Hand are $640. Depreciation: Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method (residual value S6 000) The old Delivery Truck sold on 30 June is depreciated at 20 using the diminishing balance method (residual 88 000). The new Delivery Truck bought on 30 June is to be depreciated at 25, using the diminishing balance method (residual $10.000). The Telephone and Internet account for June for $250 has not been received or paid Allowance for Doubtful Debts needs to be adjusted to equal s of Accounts Receivable Control at 30 June A stocktake revealed the following closing balances: . 30 End of Month adjustments Insurance is paid once a year in advance on 1 June each year. No adjustment has been made during the year. Wages owing at 30 June $220. A stocktake in the office reveals that Packaging Materials on Hand are $640. Depreciation: Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method (residual value $6 000) The old Delivery Truck sold on 30 June is depreciated at 20% using the diminishing balance method (residual 58 000). The new Delivery Truck bought on 30 June is to be depreciated at 25% using the diminishing balance method (residual $10.000). The Telephone and Internet account for June for S250 has not been received or paid. Allowance for Doubtful Debts needs to be adjusted to equal 8% of Accounts Receivable Control at 30 June A stocktake revealed the following closing balances: Day Pack 34 Hiking Pack The Trial Balance as at 31 May 2020 prepared by the old bookkeeper is as follows: Account Name Acc No Debit Credit 1-1100 74 530 12 503 1-1104 1-1105 565 1-1115 1-2121 6258 2 480 1 890 42 000 1-2125 1-3175 1-3176 15 000 1-3180 65 000 1-3181 47 000 16 595 2-1200 2-1215 3-1300 131 600 3-1310 48 205 3-9000 Cash at Bank Accounts Receivable Control Allowance for Doubtful Debts Inventory Control Packaging Materials Prepaid Insurance Warehouse Fixtures and Fittings Accum Depn - Warehouse Fixtures and Fittings Delivery Truck Accum Depn - Delivery Truck Accounts Payable Control Accrued Expense Payable SO'Brien, Capital S O'Brien, Drawings Profit and Loss Summary Sales Sales Returns and Other Allowances Interest Revenue Discount Received Cost of Goods Sold Salaries and Wages Expense Telephone and Internet Expense Electricity Expense Insurance Expense Packaging Materials Expense Depn Expense Warehouse Fixtures and Fittings Depn Expense - Delivery Truck Bank Fee Expense Bad Debts Expense Discount Allowed 4-1000 154 705 4-1005 410 4-8410 75 74 4-8420 5-1000 6-2540 89 540 18 350 2 145 2 035 6-2545 6-2547 6-2550 6-2556 6-2563 6-2564 150 6-3580 6-3590 6-3595 118 $365 614 $365 614 Transactions for the month of June are as follows: Received $1000 from W Wombat for full payment of his debt as at 31 May, Receipt June 1 No 103 (hint, we may have given him a discount). 1 Paid the annual insurance premium of $1 956, Cheque 904. 2 Cash Sales, 12 Hiking Packs @ $180, Receipt No 104. Paid M Mountain the amount owing to them less 5% cash discount for early payment, 4. Cheque 905. 6 Credit sales to P Possum of 20 Day Packs @ $78. Invoice No. 56. Paid L Lake the amount owing at 31 May and received a 7.5% discount for early payment, Cheque 906. 7 Paid wages owing for the fortnight $420. Cheque 907. 6 8 Paid T Tarn the full amount owing as at 31 May. Cheque 908. Received $7.100 from Q Quoll as full payment of her debt as at 31 May. Receipt N 9 105. 10 Received a quote from Trucks Us for $90 000 for a new delivery truck 14 Paid Electricity Account $310. Cheque 909. 15 Purchased 30 Day Packs @ $48 from T Tarn. Invoice 1290. 16 Donne : DAASIN TI 7 14 Paid Electricity Account $310, Cheque 909. 15 Purchased 30 Day Packs @ $48 from T Tarn, Invoice 1290. 16 Purchased 25 Hiking Packs @ $113 from M Mountain, Invoice 101. 18 Credit sales to W Wombat of 33 Day Packs @ $80 each, Invoice No 57 18 Cash sales, 15 Day Packs @ $78, Receipt No 106. 19 Credit sales to Q Quoll 25 Hiking Packs @ $180 each. Invoice No. 58. Quoll returned 5 Hiking Packs as she decided she only wanted 20. Summer issued Credi Note 19 and gave Q Quoll a credit. As the packs were not damaged they were returned to the inventory. 2 Paid wages owing for the fortnight S420. Cheque 910. Appointed Tim Brady as Sales Representative starting on sth July 2020. His retainer 22 wage was agreed at $1 666 per month with a commission of 5% on products sold. 3 Received $3.500 from P Possum, Receipt No 107 24 Credit sales to W Wombat of 15 Hiking Packs a SISO. Invoice No. 59. 25 Purchased 40 Day Packs @ $49 each from I Lake. Invoice 277 Cash Sales. Lo Day Packs a $80 and 10 Hiking Packs a SI82. Receipt No 108. Q Quoll returned 5 Hiking Packs as she decided she only wanted 20. Summer issued 21 Credit Note 19 and gave Q Quoll a credit. As the packs were not damaged they were returned to the inventory. 22 Paid wages owing for the fortnight $420, Cheque 910. Appointed Tim Brady as Sales Representative starting on 8th July 2020. His retainer wage was agreed at $1 666 per month with a commission of 5% on products sold. 23. Received $3,500 from P Possum, Receipt No 107. 24 Credit sales to W Wombat of 15 Hiking Packs @ $180, Invoice No. 59. 25. Purchased 40 Day Packs @ $49 each from L Lake. Invoice 277. 26 Cash Sales, 10 Day Packs (co S80 and 10 Hiking Packs @ $182. Receipt No 108. 27. Provided a wholesale sales quote to Hobart Hardware for 500 Day Packs @ $65. 28. Received $3 600 from Q Quoll. Receipt No 109. 29 Paid M Mountain $1 200, Cheque 911. Traded in the delivery truck for $13.000 in part payment for a new delivery truck 30 costing $74 000. The remaining $61 000 was paid in cash, Cheque 912 (see depreciation information below). 30 . . End of Month adjustments Insurance is paid once a year in advance on 1 June each year. No adjustment has been made during the year. Wages owing at 30 June $220. A stocktake in the office reveals that Packaging Materials on Hand are $640. Depreciation: Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method (residual value S6 000) The old Delivery Truck sold on 30 June is depreciated at 20 using the diminishing balance method (residual 88 000). The new Delivery Truck bought on 30 June is to be depreciated at 25, using the diminishing balance method (residual $10.000). The Telephone and Internet account for June for $250 has not been received or paid Allowance for Doubtful Debts needs to be adjusted to equal s of Accounts Receivable Control at 30 June A stocktake revealed the following closing balances: . 30 End of Month adjustments Insurance is paid once a year in advance on 1 June each year. No adjustment has been made during the year. Wages owing at 30 June $220. A stocktake in the office reveals that Packaging Materials on Hand are $640. Depreciation: Warehouse Fixtures and Fittings depreciation is based on 15 years usage and the straight line method (residual value $6 000) The old Delivery Truck sold on 30 June is depreciated at 20% using the diminishing balance method (residual 58 000). The new Delivery Truck bought on 30 June is to be depreciated at 25% using the diminishing balance method (residual $10.000). The Telephone and Internet account for June for S250 has not been received or paid. Allowance for Doubtful Debts needs to be adjusted to equal 8% of Accounts Receivable Control at 30 June A stocktake revealed the following closing balances: Day Pack 34 Hiking PackStep by Step Solution
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